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22 April 2004 - Vattenfall will be investing SEK 20m ($2.6m) during the coming year into an extensive survey and pilot study of the conditions that tomorrow's electrical systems will be facing.
This was revealed by Lars G Josefsson, Group CEO, at the Vattenfall Annual General Meeting on Thursday. In a broad system study, Vattenfall will review the design of future electrical systems, with the aim of achieving greater flexibility and closer matching to customer needs.
For this study, Vattenfall will be using its broad base of expertise resources in four countries - Sweden, Germany, Finland and Poland. Lars Josefsson also underscored that Vattenfall is in a favourable position today for continued growth in Europe.
"Growth is a long-term prerequisite for sustained profitability and continued value creation. The growth of Vattenfall creates the conditions necessary for the company being able to continue to act as a growth engine for Sweden," he declared.
Dag Klackenberg, Chairman of the Vattenfall Board, stated that the growth development of Vattenfall in recent years has been remarkable, and the company is now a major Swedish conglomerate, with a turnover and total assets on a par with companies such as Ericsson, Volvo and TeliaSonera.
He asserted that out of the ten or more independent power utilities that operated in Sweden in the early 1990s, only Vattenfall now remains as an independent company based in Sweden.
"Vattenfall is a leader in renewable energy in Sweden, and stands for innovativeness in the European power industry," stated Dag Klackenberg.
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